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Toronto Real Estate Market Stats - July 2023

The GTA housing market cooled further in July 2023. The average sold price decreased by 5.4% from the previous month, detached and semi-detached homes were impacted most at -6.8% and -9.3%. Despite the downward trend, there was a 7.8% increase in sales volume compared to the previous year, indicating more robust demand this year.

Like the previous year, rising interest rates may have prompted buyers to step back from the market. There were fewer new listings compared to the previous month but more active listings and fewer sales, suggesting a potential shift in market balance...

Toronto Real Estate Market Stats - June 2023

In June 2023, GTA home prices and sales volume dipped from last month while still surpassing the previous year's figures.

As buyers and sellers were getting accustomed to the lending environment, the BoC further increased interest rates causing some uncertainty in the market.

Still, semi-detached homes showed resilience in prices, being the only type to increase average sale price from last month. Volume in more affordable property types, especially condos, surged from the previous year.

Toronto Real Estate Market Stats - March 2023

In March 2023, the GTA housing market was tighter than last year but showed signs of resurgence. Average selling prices were down 14.6% YoY but up slightly from Feb 2023. Sales volume decreased by 36.5% but jumped by 44.2% from Feb 2023. Improving sales volume and stability in prices show buyers and sellers are coming back.

Toronto Real Estate Market Stats - February 2023

Sales volume fell from this time last year, but actual inventory fell even more. Demand continued to shift to the more affordable home types, especially those under the $1M price. Despite an 18% drop in home prices from last year, there was a slight bounce up 5.5% from January.

Toronto Real Estate Market Stats - January 2023

In Jan '23, Toronto real estate market saw stability from the previous month, but a significant drop from last year with 16.4% decrease in average home prices and 44.6% decline in sales volume. BoC suggested it may hold interest rates depending on the economic outlook.

Toronto Real Estate Market Stats - December 2022

In 2022, the GTA saw 75,140 home sales, a low not seen since 2008. This is a 38.2% decrease from 2021’s record breaking high of 121,639. Average selling price was $1,189,850, which was up 8.6% from $1,095,333 in 2021.

Toronto Real Estate Market Stats - November 2022

TRREB reported fewer sales and new listings compared to last year due mostly to higher borrowing costs. From Oct 2022, average prices and sales volume of all housing types went through decline except detached homes, which had some price support after experiencing the greatest price drops from this year's peak.

Toronto Real Estate Market Stats - October 2022

Average sale prices and volumes have remained steady for the previous three months. While most home types decreased in value from last year, condos retained their value best. Affordability and economic uncertainty continue to be issues affecting demand, which seems balanced with relatively low new inventory.

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